China hits back with fresh 125% tariff on US imports

China imposed fresh retaliatory tariffs on US imports on Friday.Mario Tama/Getty ImagesChina hit the US with a 125% tariff on imports on Friday.The move is the latest in a series of tit-for-tat tariff increases.China's finance ministry accused the US of "bullying and coercion."China hit back at the US with a 125% tariff on imports on Friday, the latest escalation in the trade war between the two superpowers sparked by President Donald Trump's trade tariffs."The US's imposition of abnormally high tariffs on China seriously violates international economic and trade rules, basic economic laws and common sense, and is completely a unilateral bullying and coercion," China's finance ministry said in a statement on Friday.The new tariffs will come into effect on Saturday, the ministry said.Previously, China had said the tariff rate on US imports would be 84%, a level imposed on Wednesday.On Thursday, Trump's White House clarified that the combined tariff rate being imposed on China was 145%, not the 125% that had previously been reported.Earlier in the week, Trump announced that he would pause a large swathe of his tariffs for 90 days, though many — including tariffs on China — remained in effect."At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable," Trump wrote on Truth Social on Wednesday.China's announcement of fresh retaliatory tariffs pushed European stocks lower on Friday after earlier gains. Britain's benchmark FTSE 100 was down 0.6% at 9:45 a.m. local time (4:45 a.m. ET), having been up by close to 1% earlier. Europe's broad Stoxx 600 fell 0.9%.US futures were trading a little lower, with the Dow, S&P 500, and Nasdaq all set to open about 0.7% lowe.This is a developing story. Please refresh for further updates. Read the original article on Business Insider

Comments

Business News

Amazon launches its first internet satellites to compete against SpaceX's Starlinks

I've spent hundreds of hours on Amtrak trains. I always prepare for these 5 mishaps that can make journeys more difficult.

about 5 hours ago

3 days in the office is the sweet spot — any more and staff start disengaging from work, PwC HR boss says

Comments

Similar News

’Nowhere to turn’: Small businesses dependent on imports from China are feeling more desperate

China says it won’t ‘kneel’ to U.S., urges countries to resist bullying

U.S. agriculture sector sees China orders dry up as trade war stagnates

With China and the U.S. at intense economic odds, other nations are being forced to choose sides

Treasury Secretary Bessent says onus is on China to de-escalate trade war

Treasury Secretary Bessent says ‘it’s up to China’ — not the US — to de-escalate trade war

One chart that shows how China seized the lead in the robotaxi wars

What is behind China’s perplexing bond-market intervention?

China’s last boomtowns show rapid growth is still possible

China’s government is surprisingly redistributive

China’s central bank tries to save the economy—and the stockmarket

China is suffering from a crisis of confidence

At last, China pulls the trigger on a bold stimulus package

How China’s communists fell in love with privatisation

Is China really a nation of slackers?

Why China needs to fill its empty homes

China’s property crisis claims more victims: companies

China’s markets take a fresh beating

China meets its official growth target. Not everyone is convinced

What a censored speech says about China’s economy

Business News

Amazon launches its first internet satellites to compete against SpaceX's Starlinks

DWP clarifies Universal Credit rules for holidays – payments could stop unless you do this

The Crusader: PCN error based on faulty camera drives husband to despair

French train lovers targeted in new 'first-of-its-kind' VisitScotland campaign

Appeal bid for ‘coffee stops’ on Scotland-England border rejected

Boutique hotel and restaurant in historic Scottish location goes on market

White House blasts Amazon over tariff surcharge label: ‘This is a hostile and political act’

Trump to ease blow from auto tariffs by giving car makers exemptions on steel, aluminum: report

UK’s oldest Indian restaurant with Michelin star at threat of closure pleas with King Charles to keep it open

Have you been underpaid the state pension? Use simple tool to find out as DWP pays back £800million

Huge rule change for banks after over 400,000 had accounts closed last year after Farage scandal

Is Declan Rice The Best Midfielder In The World Right Now?

A New Study Shows How Gen AI May Transform Access To Mental Health Services

Climate Change Serendipity: A Bordeaux Grand Cru Winery Makes Authentic Japanese Soy Sauce

Maury Povich Has Some Thoughts About The Media Business Today

Calling AI To The Grocery Aisle

Russia’s New Jet-Engine Drone Aims To Break Through Ukrainian Defenses

Donna Summer Debuts A Decades-Old Album On Several Charts

Led Zeppelin’s Biggest Hit On The Charts Was Never Actually A Single

Bob Marley’s Bestseller Bounces Back To The Charts In A Big Way

Kentucky Derby 2025: Journalism, Sovereignty, And Rodriguez In Works

Three Different Beatles Albums Chart This Week — And Two Of Them Return

Birmingham lorry drivers’ pay cuts ‘an escalation’ of bin strike, union says

Richard Caring's Ivy Collection of restaurants serves up record sales and profits

'My wife lost her job and we're buying a house - do we need to tell our mortgage provider?'

The councils dishing out most (and least) fines to parents over holidays

'So sad' say shoppers as major toy retailer set to close store this weekend

'I love the original Wonderskin lip stain so much I bought the new shade to see if it's as good'

M&S stores left with empty food shelves as it continues to battle cyber attack

Top Tech: Giffgaff is dishing out £100 to try its new broadband to rival Sky and Virgin

Where Arsenal vs PSG is on TV for free as Champions League game not on TNT Sports

Garnier hyaluronic acid-infused SPF50 gets a 'better than £10 Tuesday' saving in Amazon deal

M&S cyber attack that crippled stores is 'linked to gang of teenage hackers'

Tesco shoppers told to act before May 31 as supermarket issues alert

'Fantastic' kids mini trampoline is reduced to £68 from £200 in time for the heatwave week

‘Next has a £24 fragrance that smells just as good as my favourite Chanel perfume’

THG sales hurt by beauty weakness but nutrition shows recovery

New electric car MOT tests could be introduced in Britain - here's why

Trainer prices will rise due to tariffs, says Adidas

I've spent hundreds of hours on Amtrak trains. I always prepare for these 5 mishaps that can make journeys more difficult.

3 days in the office is the sweet spot &mdash; any more and staff start disengaging from work, PwC HR boss says

Inside the first week back at JPMorgan's largest US office, from the memos to the jockeying for desks

Ray Dalio warns that the international world order is on the brink of breaking down

’Nowhere to turn’: Small businesses dependent on imports from China are feeling more desperate

Tens of thousands of Los Angeles County workers begin 2-day strike

Landlocked Sahel states back Morocco's sea access initiative

Coca-Cola reports better-than-expected quarterly profit, says it can manage through tariffs

Top five easy access Cash ISAs paying up to 5.71% interest

Two DWP changes to the state pension from next year that mean payments will drop

DWP and HMRC payment date changes to be aware of

Angela Rayner’s workers overhaul could cost jobs, claim store bosses

Hiltzik: Inside the GOP's secret plan to destroy Medicaid

Tony Lam was an original influencer in Little Saigon — and he's still got it

Edison told the government that Calderon was an 'executive.' Now it claims she wasn't.

Adidas cautions over higher prices and halts outlook upgrade due to tariff woes

Oil refining comes to an end in Scotland as Grangemouth halts processing work

Ladbrokes owner appoints interim chief Stella David as permanent boss

3 days in the office is the sweet spot — any more and staff start disengaging from work, PwC HR boss says